Asset Management — Fee Related Income (Loss)
KKR & Co. Asset Management — Fee Related Income (Loss) decreased by 5.9% to $972.02M in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 15.3%, from $842.99M to $972.02M. Over 4 years (FY 2021 to FY 2025), Asset Management — Fee Related Income (Loss) shows an upward trend with a 17.2% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
Analysis
How to read this metric
Higher values indicate a strong, stable base of assets under management and high-quality earnings that are less sensitive to market volatility.
Detailed definition
The recurring revenue generated from management fees, advisory fees, and other stable income streams, net of related exp...
Peer comparison
A primary performance metric for all alternative asset managers, often referred to as 'Fee-Related Earnings' (FRE).
kkr_segment_asset_management_fee_related_income_lossHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $470.15M | $529.59M | $606.49M | $604.92M | $461.24M | $541.76M | $559.43M | $548.58M | $602.31M | $557.53M | $675.37M | $668.74M | $755.40M | $1.00B | $842.99M | $822.60M | $886.75M | $1.03B | $972.02M |
| QoQ Change | — | +12.6% | +14.5% | -0.3% | -23.8% | +17.5% | +3.3% | -1.9% | +9.8% | -7.4% | +21.1% | -1.0% | +13.0% | +32.5% | -15.8% | -2.4% | +7.8% | +16.5% | -5.9% |
| YoY Change | — | — | — | — | -1.9% | +2.3% | -7.8% | -9.3% | +30.6% | +2.9% | +20.7% | +21.9% | +25.4% | +79.5% | +24.8% | +23.0% | +17.4% | +3.2% | +15.3% |
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Frequently Asked Questions
- What is KKR & Co.'s asset management — fee related income (loss)?
- KKR & Co. (KKR) reported asset management — fee related income (loss) of $972.02M in Q4 2025.
- How has KKR & Co.'s asset management — fee related income (loss) changed year-over-year?
- KKR & Co.'s asset management — fee related income (loss) increased by 15.3% year-over-year, from $842.99M to $972.02M.
- What is the long-term trend for KKR & Co.'s asset management — fee related income (loss)?
- Over 4 years (2021 to 2025), KKR & Co.'s asset management — fee related income (loss) has grown at a 17.2% compound annual growth rate (CAGR), from $1.97B to $3.71B.
- What does asset management — fee related income (loss) mean?
- The profit earned from recurring management and advisory fees, excluding performance-based income.